How can the government make sure that people save enough money to live on when they are old?

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The physical condition of old
people
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makes them unable to work;
hence
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, they need retirement funds in order to provide for their daily needs. The government should take action to ensure the elderly have sufficient
money
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to live.
This
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essay will explain how to guarantee these
people
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have enough
cash
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to continue their lives. The way to actualize that idea is by creating a policy to force everyone to separate their small proportion of salary. There should be an automated deduction in their bank account every month.
Then
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, as time goes by, their funds are eventually enough for their retirement.
Moreover
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, the government can make the
cash
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withdrawal policy very strict.
For instance
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, emergency withdrawal is only allowed if a member of a nuclear family suffers from a medical crisis, and anything
that is
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not related to primary needs is denied. By doing
this
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,
this
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retired group patiently waits until they reach the eligible age. After all is completed, they can
cash
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out their
money
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to buy a house, start a small business, or even just save some hard
cash
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.
However
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, the government should not leave the business owner out of
this
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regulation. There is no guarantee that these
people
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will have a comfortable life in the future.
Then
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, they can save their
money
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simultaneously during the tax payment period. During
this
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period, they will pay their taxes and deposit their retirement funds at the same time.
Next,
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a punishment must be employed in order to force them. One common example is to retract their business permission if they don’t deposit the
money
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. In conclusion, a mandatory regular deposit can help older
people
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save for their future. The employee can follow it monthly, and the businessman can follow it quarterly.
Submitted by erniwbs on

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